Monday, December 13, 2021 12:53 PM EDT
We started off the day with Export Inspections at 10:00 A.M., NY Fed Treasury Purchases 22.5 to 30 yrs. at 10:30 A.M., Consumer Inflation Expectations (Nov) at 11:00 A.M., 3-Month and 6-Month Bill Auction at 11;30 A.M.
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On the Corn Front, funds and speculators are bullish as we started the month with modest buyers. We were also dealt with another Covid-crisis related selloff, but the funds hung in there and remained bullish on corn. The market looks like it is realizing there is a market in corn to ethanol and exports will come into play at the bottom line. In the overnight electronic session, the March corn is currently trading at 587 ¾ which is 2 ¼ cents lower. The trading range has been 590 ¼ to 585 ¾.
On the Ethanol Front, the WASDE maintained its forecast with the USDA for corn used to ethanol. The EPA needs to resolve the E15 barrier and not pull the plug on small refineries. There were no trades or open interest in the ethanol futures.
Disclaimer: A Subsidiary of Price Holdings, Inc. – a Diversified Financial Services Firm. Member NIBA, NFA Past results are not necessarily indicative of future results. Investing in ...
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Disclaimer: A Subsidiary of Price Holdings, Inc. – a Diversified Financial Services Firm. Member NIBA, NFA Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone. Trading foreign exchange also involves a high degree of risk. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures. The Price Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author. Trading in futures contracts, options on futures contracts, and forward contracts is not suitable for all investors and involves substantial risks.
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